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  • Frank Tian

Australia BNPL Update

🇦🇺 Australia chose option 2 for BNPL regulation.

As I was finalizing the presentation slides of BNPL, the news came in from the Down Under.

Last November the Australian government offered 3 options:

1️⃣ Tougher self-regulation code + affordability check

2️⃣ Modified regulation under the credit act, including required licensing.

3️⃣ Full regulation under the credit act - treat as credit cards.

Now the government is moving with option 2.

The draft legislation is going out later this year.

Among the proposals are:

📍Caps on late fees

📍Credit increases need consent

📍Improved hardship and dispute processes


BNPL is an interesting example - it seized the consumer behavior/tech trends, and impacted the credit ecosystem, but had to go back to fundamentals.

That is why I chose BNPL as a topic to illustrate the financial innovation journey in the recent decade in my recent presentation in Des Moines, Iowa, and Omaha, Nebraska.

And ending the presentation with a recent quote from the Oracle of Omaha - Mr. Buffett.

The presentation slides are available at


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